UK crypto rules are entering a new phase. HM Revenue and Customs (HMRC) is proposing to extend its information-gathering powers to cryptoasset businesses and to change the rules on access to computer records and software. Critics warn that linking names, home addresses, and tax identifiers to Bitcoin addresses could expose a lasting history of public blockchain activity, with risks beyond tax compliance.

These broader powers are still proposals. The consultation closed on September 7, 2026, and ministers had not made a decision by October 8.

Why Can a Blockchain Record Reveal More Than a Bank Statement?

A bank statement stays inside a financial institution’s records. Bitcoin transactions sit on a public blockchain that anyone can inspect….